Natixis Advisors LLC Raises Stake in IDACORP, Inc. (NYSE:IDA)

Natixis Advisors LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 9.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 52,999 shares of the energy company’s stock after buying an additional 4,552 shares during the quarter. Natixis Advisors LLC’s holdings in IDACORP were worth $4,937,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC lifted its position in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after acquiring an additional 146 shares during the period. Mather Group LLC. acquired a new position in IDACORP in the 1st quarter valued at $41,000. Northwest Financial Advisors purchased a new position in IDACORP during the 4th quarter worth $52,000. Kapitalo Investimentos Ltda acquired a new stake in shares of IDACORP in the 4th quarter worth $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 1.1 %

Shares of IDA opened at $103.30 on Friday. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $105.24. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $5.50 billion, a P/E ratio of 20.74 and a beta of 0.60. The firm’s 50-day moving average is $98.71 and its two-hundred day moving average is $94.79.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The business had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. During the same quarter in the previous year, the company earned $1.35 EPS. On average, research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, August 5th. IDACORP’s dividend payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IDA shares. Morgan Stanley increased their price target on shares of IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company increased their target price on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Mizuho raised their price target on IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $99.80.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.